Americold Realty Trust to Expand and Enhance Infrastructure Network in Atlanta

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Americold Realty Trust (NYSE:COLD) (the Company or Americold), the worlds largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses, today announced that the Company intends to invest a total of approximately $126 million to $136 million in a planned expansion and redevelopment at its existing Atlanta major market campus, consisting of its Tradewater, Gateway, Westgate, Southgate, and Skygate facilities.

Given the supply-demand characteristics for temperature-controlled infrastructure in Atlanta, we are extremely pleased to announce our plans to expand our operations in this key market, which we believe will allow us to support new and existing customer growth, stated Fred Boehler, President and Chief Executive Officer of Americold Realty Trust. Furthermore, the expansion of our Atlanta major market campus, and our previously announced development at the Port of Savannah, together will grow our total capacity in the state by over 50% by 2021. We believe this targeted investment will enhance efficiencies for both Americold and its customers, and ultimately drive increased profitability and additional long term shareholder value.

Americold is investing approximately $126 million to $136 million in total in new fully automated and semi-automated expansion projects and select redevelopment of its existing Atlanta major market cold-storage infrastructure. The investment will provide additional capacity to support existing customer growth, facilitate capture of new business, improve service capabilities and efficiency, and increase campus profitability.

The Company intends to demolish part of an existing facility at its Gateway facility, and build a first to market, fully automated facility with approximately 46,600 pallet positions. At its Tradewater facility, the Company expects to build a semi-automated expansion, adding approximately 13,600 pallet positions. The Company also intends to invest capital at its Westgate, Southgate and Skygate facilities on projects intended to enhance efficiencies and better serve its growing customer base.

The Company expects to begin this program in the first quarter of 2020, with completion of the projects targeted for the second quarter of 2021. The Company anticipates that the returns on this investment will be consistent with the Companys stated return expectations for such projects upon stabilization.

About Americold Realty Trust

Americold is the worlds largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 155 temperature-controlled warehouses, with approximately 918.7 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americolds facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.

Americold Realty Trust
Investor Relations
Telephone:
678-459-1959
Email: [email protected]

Sean Tetpon
Public Relations
Telephone: 404-426-0832
Email:
[email protected]